Tyfone has been awarded its second patent this year for the company’s mobile electronic wallet technology.

This new patent, US 7,805,615, entitled “Asymmetric cryptography with user authentication,” is for Tyfone’s u4ia Mobile Secure Transaction platform, which offers identity authentication and secure access to electronic wallet information even if the mobile phone is not connected to the network at the time of transaction.

Apart from secure wallet information access, the algorithm authenticates a user while avoiding the danger of password hacking, since there is no local storage of direct hashed password or password in the clear, according to Tyfone.

Just a few weeks ago Tyfone also announced the issuance of a patent for its microSD-based NFC mobile payment system SideTap, entitled “Mobile phone with electronic transaction card.”